It is important to think carefully before taking out life insurance, to ensure you are covered appropriately, whether that be the length of the term or the amount of cover you require.

Our experienced advisors can talk you through the important details and find you the best quote for your situation.

Types Of Cover

Whole of life cover

Whole-of-life insurance is designed to last as long as you do. You pay in a premium every month and when you die, the policy pays out a lump sum to your loved ones.

Term insurance

When you buy a term life policy, you are buying a promise from an insurance company that it will pay your beneficiaries a set amount if you die during the policy’s term.

Decreasing term insurance

Decreasing term insurance is renewable term life insurance with coverage decreasing over the life of the policy at a predetermined rate.

Critical illness cover

Critical illness insurance gives a lump sum for a diagnosis of the critical illnesses listed in the contract, things like cancer, coronary artery bypass surgery, heart attack and stroke.

Joint life policies

A ‘joint‘ life policy covers two lives, usually on a ‘first death’ basis. This means the chosen amount of cover is paid out if the first person dies, during the policy, after which the policy would end.

Income protection

Generally, income protection is a monthly benefit that pays around 75% – 85% of your income while you’re unable to work, based on your earnings prior to claim.

Critical illness cover releases funds if you were to be diagnosed with a serious condition whilst you are paying for your policy. It is advised to check the small print of your policy to check the conditions associated with the policy.

The majority of policies will only let you claim once during the life of the term.

The amount of cover you require will depend on your personal circumstances. The amount will differ for each family.

An amount 10 times your annual salary is generally seen as a safe amount of cover. However a parent with a large mortgage would need substantially more cover than a single adult, with no dependants and or mortgage.

The premiums on a life insurance policy are calculated using a number of factors.Selecting the right amount of cover will have a great effect on the price you will pay. Also the longer the policy the larger the premium.

Your general health is a key factor to consider. People who smoke, or are overweight for example will be viewed as a higher risk. Therefore keeping yourself at a healthy weight and quitting smoking can save you money on your premium.

The majority of policies have fixed premiums throughout the length of the term. Some policies are classed as ‘reviewable’, this form of cover is generally reviewed every 5-10 years and prices change to reflect the review.

Whole-of-life assurance is regularly linked to an investment. The performance of the investment can affect how much you will be required to pay each month.

Protection for your house & mortgage

You may choose to take out life insurance at the point of buying your first property. A popular plan is to cover the amount borrowed over the same period of time to match the mortgage. With decreasing cover, the amount goes down every year like a mortgage – and the monthly premiums remain the same.

Thinking of your family’s future

A term policy would allow you to cover potential costs that may arise within a certain timescale. Perhaps you would like cover to run whilst your children are in education, with university fees and other costs in mind.

About Us

Core Cover Ltd, trading as lifecover.com, is authorised and regulated by the Financial Conduct Authority. Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please click here for further details.
Registered Address: Meteor House. First Avenue, Finningley, Doncaster, DN9 3GA